Patriot Energy Corporation

Patriot Energy Corporation

May 21, 2009 13:14 ET

Patriot Energy and Marmara Motorlu Issues Joint Press Release

MONTREAL, QUEBEC--(Marketwire - May 21, 2009) - Patriot Energy Corporation (PINKSHEETS:PGYC) and the Alcoses Group, the holding company of Marmara Motorlu released a joint press release today.

Alcoses Group, the Holding company of Marmara Motorlu reaffirmed its offer to acquire 100% of the outstanding stock of Patriot Energy Corp. at a price of $0.57 per share but reserves the right to continue acquiring shares in the secondary market. Representatives of the company also stated that they would not be present at the shareholders meeting in order to prevent any perception of interfering with the vote and that a proxy was already submitted to the company.

Patriot Energy has sent a notice of the shareholders meeting as well as the proxy and information circular and the meeting is schedule to be held on June 9, 2009 at 9:00am at the Montreal Fairmont Queen Elizabeth Hotel.

About Patriot Energy Corporation

Patriot Energy Corp. is a management holding corporation, which owns a wholly owned subsidiary named TelTeck Solutions and owns a 99 year exclusive leased license agreement with Tectane Technologies Corporation for the Dual H2O Engine Oxygenator and New Tri-Brid Engine (Electric/Flex-Fuels/H2O) Technologies. Patriot Energy specializes in the development and marketing of energy efficient technologies with a focus on reducing America's dependence on Foreign Oil.

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Momentum IR
    Max Gagne